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Monday February 16, 1970
. . . where the 1970s live forever!

News stories from Monday February 16, 1970


Summaries of the stories the major media outlets considered to be of particular importance on this date:

  • The Senate Judiciary Committee approved the nomination of Judge G. Harrold Carswell for the Supreme Court over liberal objections. Despite the long hearings, not one Senator changed his vote. Committe chairman James Eastland predicted confirmation by the full Senate. Civil rights forces led the fight against Carswell. [CBS]
  • President Nixon reaffirmed his support for school integration, but he opposes the primary method for carrying it out. The President's statement on desegregation sets him in opposition to many court-ordered plans which are already in effect. Furthermore, the President's position in many areas remains ambiguous. Welfare Secretary Robert Finch plans to endorse a single uniform standard for desegregation in testimony tomorrow.

    Ronnie Thompson, the Mayor of Macon, Georgia, is leading a new round of white resistance to court-ordered desegregation in his city. In Woodville, Mississippi, whites left the public schools when the court ordered them to desegregate. Only two whites were left, Annette and Thomas Brown, whose parents couldn't afford private school. Now they are in a private school where a white benefactor pays their tuition. [CBS]

  • Laos reported that U.S. planes took action to stop a Communist offensive in the Plain of Jarres. [CBS]
  • In battles in South Vietnam today, many enemy troops were killed in the northern provinces. [CBS]
  • General Lewis Hershey retired as director of Selective Service. Colonel Dee Ingold will become acting director. [CBS]
  • The "Chicago 7" defendants remain in jail on contempt sentences as the jury is in its third day of deliberation behind closed doors. Defense attorneys are preparing a motion if the jury turns out to be deadlocked; they are also starting appeals of the contempt sentences. The lawyers are set to accuse Judge Julius Hoffman of becoming personally involved in the case. [CBS]
  • Russia will give more arms to Arab nations unless Israel stops its attacks. The Israeli budget is $2.8 billion; 40% of it is for military spending. Israelis are the second highest-taxed people in the world. [CBS]
  • Secretary William Rogers is in Zambia where President Kenneth Kaunda urged him to force Portugal to give up her African colonies, and he asked the U.S. to close its consulate in Rhodesia. [CBS]
  • The United States dropped espionage charges against a Soviet employee of the United Nations, but announced that he has to leave the country by tomorrow. The Soviet employee had tried to get information on American missile defenses. The State Department urged that the charges be dropped because of Russia's leniency with U.S. violators. [CBS]
  • Congress banned the building of highways through metropolitan residential areas until new housing is available for displaced people. Secretary John Volpe has now expanded the ban to all federally-aided construction under the Department of Transportation. [CBS]
  • Health authorities are testing everyone working on Capitol Hill for tuberculosis. Two restaurant workers there have recently died of tuberculosis. A doctor said that he anticipates 15-20% positive reactions. [CBS]
  • Senator Edmund Muskie announced his candidacy for re-election to the U.S. Senate from Maine. Muskie is also a contender for the '72 Democratic presidential nomination. [CBS]
  • Paul McCracken, President Nixon's chief economic adviser, predicts an increase in unemployment during 1970 and a drop in the inflation rate as the government emphasizes price-wage stability. [CBS]
  • AFL-CIO president George Meany stated that wage and price controls are preferable to policies which would bring on a recession while inflation continues. [CBS]
  • The Commerce Department reported that the balance of payments deficit for 1969 was the worst on record; $7 billion more went out than came in. [CBS]
  • A man hijacked an Eastern Airlines jet to Cuba, the first such hijacking this year. [CBS]
  • A Los Angeles judge denied Charles Manson a change of venue. Manson is charged with the murders of Sharon Tate and six others. [CBS]
  • It was announced that Chet Huntley is leaving NBC in August to become chairman of a resort development. [CBS]


Stock Market Report

Dow Jones Industrial Average: 753.70 (+0.40, +0.05%)
S&P Composite: 86.47 (-0.07, -0.08%)
Arms Index: 1.04

IssuesVolume*
Advances6604.29
Declines6534.40
Unchanged2621.09
Total Volume9.78
* in millions of shares

Arms Index is the ratio of volume per declining issue to volume per advancing issue; a figure below 1.0 is bullish.

Market Index Trends
DateDJIAS&PVolume*
February 13, 1970753.3086.5411.06
February 12, 1970755.6186.7310.01
February 11, 1970757.3386.9412.26
February 10, 1970746.6386.1010.11
February 9, 1970755.6887.0110.83
February 6, 1970752.7786.3310.15
February 5, 1970750.2685.999.43
February 4, 1970754.4986.2411.04
February 3, 1970757.4686.7716.05
February 2, 1970746.4485.7513.44


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